LG NOVA Forms New Alliance Program with Corporate Partners and Startups for Innovation

LG Electronics has announced the initiation of the LG NOVA Partner Alliance Program, aimed at bridging the gap between corporate partners and startups for the development and enhancement of technological innovations. This strategic program endeavors to foster cross-industry collaborations, facilitate business growth, and establish commercial partnerships crucial for pioneering future advancements.

Spearheaded by LG NOVA, the North America Innovation Center of LG Electronics, the program seeks to build upon LG NOVA’s mission of co-creating new ventures with startups. This mission now extends to corporate partners, aspiring to expedite the generation and market introduction of groundbreaking innovations.

The organizations that have joined the Partner Alliance Program at its inception are Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic, and the West Virginia Department of Economic Development. These entities are collaborating within LG NOVA’s extensive startup ecosystem to explore, test, and potentially commercialize new products or co-create businesses. Additional partners are expected to join the program in the upcoming months.

Dr. Sokwoo Rhee, Corporate Executive Vice President for Innovation at LG Electronics and Head of LG NOVA, emphasized the alignment of the Partner Alliance Program with LG’s core mission of establishing an ecosystem where startups can thrive. He stated that the innovations of today should evolve into the market-leading solutions of tomorrow.

Kevin Chong, who leads corporate and business development at LG NOVA, described this initiative as beneficial for all participants, including LG Electronics. He noted that the cross-industry collaboration encouraged by the program will significantly propel market growth, ultimately benefiting not just businesses but people and the environment as well.

By facilitating such collaborations, LG NOVA aims to create greater opportunities for startups, allowing them to achieve widespread commercial success. For corporate partners, aligning with innovative startups can help tap into emerging market opportunities and effectively meet the changing demands of their customers.

The Partner Alliance Program intends to utilize existing resources within LG Electronics and connect with the vast array of innovation resources available through LG NOVA. The details and visions of this initiative will be further discussed by the partner organizations during the LG NOVA InnoFest 2024, scheduled to take place in San Francisco at the Palace of Fine Arts on September 25th and 26th.

The annual LG NOVA InnoFest conference is a platform where business leaders, innovators, and investors congregate to seek solutions for a progressive future. This year’s theme, “Lighting the Halo of Innovation,” aspires to inspire attendees towards significant co-creation and the development of bold ideas.

About LG NOVA: Based in Santa Clara, California, LG NOVA is an innovation center for LG Electronics. It is committed to fostering external innovation by creating a community that nurtures and grows business ventures. More information about LG NOVA can be found on their website.

About LG Electronics USA: Headquartered in Englewood Cliffs, New Jersey, LG Electronics USA is a part of the global LG Electronics Inc., a notable $60 billion leader in technology and manufacturing. LG Electronics USA offers a variety of innovative products, including home appliances, entertainment solutions, and energy systems, in addition to automotive components.